EURUSD ALTERNATIVE VIEW WITH SHORT TERM POTENTIAL TRADE SET UP
Updated
For context please see link below since this is only 1 of the 2 scenario's I see as relevant and as highly probable.
Key to understand is that I favor a triangle correction on the daily that so far shows 3 waves o lesser degree for wave A, B and C. This suggest that we are looking at a 3-3-3-3-3 triangle structure. Add to that the fact that the 4 hour time frame might show us a triangle of lesser degree (if confirmed) and a triangle almost always occurs prior to the final move of the structure which suggest NOT to expect a bearish trend towards long term lows.
So what's the plan? We saw a bearish impulse on lower time frames on Friday and if this results in a consolidation we can sell wave C of wave A lower towards 1.08 area. If however we see a bullish reversal followed by a consolidation we can buy EURUSD towards 1.145.
updates will follow
timstuyts.com
www. facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Key to understand is that I favor a triangle correction on the daily that so far shows 3 waves o lesser degree for wave A, B and C. This suggest that we are looking at a 3-3-3-3-3 triangle structure. Add to that the fact that the 4 hour time frame might show us a triangle of lesser degree (if confirmed) and a triangle almost always occurs prior to the final move of the structure which suggest NOT to expect a bearish trend towards long term lows.
So what's the plan? We saw a bearish impulse on lower time frames on Friday and if this results in a consolidation we can sell wave C of wave A lower towards 1.08 area. If however we see a bullish reversal followed by a consolidation we can buy EURUSD towards 1.145.
updates will follow
timstuyts.com
www. facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Note
Projection of my ideal scenario for EURUSD and what I'm looking for in terms of potential trades. Both structure of larger and lesser degree. Note
So far so good guys, let's see whether we see the bearisch continuation as well.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.